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Letter: The Belize 'super-bond'
Published on March 10, 2017 Email To Friend    Print Version

Dear Sir:

For those who remain attuned to the crisis situation in which our nation finds itself, the attempts by the prime minister to paint a rosy picture, at Wednesday’s press conference concerning the renegotiated “super-bond”, certainly was not convincing.

Therefore, it should come as no surprise that the Belize Progressive Party (BPP) decries the deceitful display that persists by the government of Belize, when addressing issues related to Belize’s sovereign debt obligations. For the PM to cast the renegotiated terms as a “success” is disingenuous at best, for how can the restructuring of a less-than-beneficial debt be considered anything but a high level act of delaying the inevitable?

Albeit the recently, renegotiated terms of the “super-bond” has bought the Barrow administration a slight reprieve, the operative question is “What plans are in place for Belize to meet the restructured obligations?” More significant is the question, “What do the restructured terms mean for regular Belizeans regarding increased taxes, etc…?” These are the issues the BPP demands be aired, so as to attune the nation to the impending economic and financial implications.

The BPP reminds Belizeans both at home and abroad to remain vigilant and attuned, for the attempt by the Barrow administration to downplay the matter, shall prove a stark contrast to the reality. The super-bond, irrespective of its renegotiated status, remains a burden to this nation.

In keeping with our progressive outlook, we challenge the GOB, as well as Her Majesty’s Loyal Opposition, to put forth their plans to stimulate productivity and wealth creation for the masses. To this we advise that the Integrity Commission fulfill its mandate by holding accountable all elected officials who have not complied with the Prevention of Corruption Act (POCA) starting from 2008. To place matters in perspective, if a single representative was elected in 2008 and remained in office continuously, meanwhile not disclosing their assets as is required, the amount owed by that one individual amounts to approximately $1,553,800!

The BPP highlights that such a considerable sum, owed by a single individual, could be put toward constructive use, so as to aid the nation in meeting its obligation to the bondholders and thus negating the need to raise taxes. Therefore, the BPP demands full disclosure across the board, in addition to calling on the Integrity Commission to fulfill its duties without fear or favour.

Rest assured, the Belize Progressive Party remains committed to bringing truth, honesty and dignity in the manner in which Belize is governed, which shall inevitably be reflected in a more productive, constructive and fiscally sound environment.

Belize Progressive Party
8867 Today 8867 Tomorrow 8867 Forever
Belize, Sovereign and Free - NO ICJ!
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